U.S. stock funds hit by selling: ICI

SAN FRANCISCO (MarketWatch) -- After steadily pumping money into U.S. stock mutual funds since the start of the year, investors headed for the exits in the latest week as rising oil prices and Middle East tensions put market bulls on edge. An estimated $3.1 billion fled domestic stock funds in the five trading days through March 2, versus inflow of $1.5 billion a week earlier, according to data released Wednesday from the Investment Company Institute, a fund-industry trade group. International stock funds, meanwhile, gathered $1.2 billion in new money, compared to inflow of $1 billion in the previous week. Taxable bond funds took in $4.8 billion, versus $4.4 billion in new money invested during the week-earlier period. Outflow from U.S. municipal bond funds totaled $711 million, a pickup from net selling of $557 million a week earlier.

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